SKATE'S ART STOCKS INDEX

To compare the performance of the Art Stocks and the stock market benchmark (the S&P 500 is used for this purpose), Skate’s has established the Skate's Art Stocks Index, which is the market capitalization weighted USD index of all Art Stocks followed by Skate's. The comparative performance of Sotheby's share price, Skate's Art Stock Index and the S&P 500 benchmark is shown below.

5-year performance chart – Skate's Art Stocks Index vs S&P 500 vs Sotheby's share price

Skate's Art Stocks Index volume, USD mln

Covering the 5-year period, this chart confirms that Sotheby's shares can be safely used as a proxy for the Art Stocks market. As we can see, up until the 2008-09 financial crisis, the Art Stocks were significantly outperforming the S&P 500. The significant volatility of the Art Stocks market is fairly representative of art prices' volatility in general, as well as the art market's poor level of transparency.